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f Commercial Paper <br /> Al/P1/F1 Commercial Paper not to exceed 270 days maturity from date of <br /> purchase No more than 5% of the City's total portfolio shall be invested in <br /> commercial paper of any one issuer and the aggregate investment in commercial <br /> paper shall not exceed 25% of the City's total portfolio <br /> g State of California Local Agency Investment Fund (LAIF) <br /> The Local Agency Investment Fund was established by the State to enable local <br /> agency treasurers to place funds in a pool for investment (California Government <br /> Code Section 16429 1 et seq ) The City uses this investment vehicle for short- <br /> term liquidity, funds are available on demand and interest is paid quarterly The <br /> City may invest up to the maximum permitted by LAIF <br /> h California State and Local Agency Obligations <br /> Obligations of the State of California or any local agency within the state that are <br /> general obligation bonds or essential service bonds secured with revenue from a <br /> water, sewer, power or electric system, provided that such obligations are rated <br /> A or better No more than 5% of the City's total portfolio shall be invested in any <br /> one issuer in this category and the aggregate investment in categories (h & i ) <br /> shall not exceed 30% of the City's total portfolio <br /> i. Other State Obligations <br /> Registered treasury notes or bonds of any of the other 49 United States in <br /> addition to California, including general obligation bonds or essential service <br /> bonds secured with revenue from a water, sewer, power or electric system of any <br /> of the other 49 United States, in addition to California, provided that such <br /> obligations are rated A or better No more than 5% of the City's total portfolio <br /> shall be invested in any one issuer in this category and the aggregate investment <br /> in categories (h & i ) shall not exceed 30% of the City's total portfolio <br /> Medium-term notes <br /> Medium-term notes, defined as all corporate and depository institution debt <br /> securities with a maximum remaining maturity of five years or less, issued by <br /> corporations licensed by the United States or any state and operating in the <br /> United States Purchases are limited to securities rated in a rating category of "A" <br /> or its equivalent or better by an NRSRO The aggregate investment in Medium- <br /> term corporate notes shall not exceed 30% of the City's total portfolio <br /> 5 <br />